The synthetic hormones market size is expected to see strong growth in the next few years. It will grow to $7.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to expansion of the transgender healthcare market, growing healthcare expenditure and insurance coverage, regulatory approvals, and expanding applications of synthetic hormones. Major trends in the forecast period include rise of plant-based hormone therapy, integration of hormone therapy in anti-aging treatments, technological advancements in drug delivery, and focus on hormone-free birth control.
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Segmentation & Regional Insights
The synthetic hormones market covered in this report is segmented –
1) By Product Type: Steroid Hormones, Peptide Hormone, Amino Acid Derivatives, Other Product Types
2) By Route of Administration: Oral, Nasal, Topical, Intravenous
3) By Application: Growth Hormone Deficiency, Thyroid Hormone Deficiency, Menopause, Male Hypogonadism, Other Applications
4) By End User: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
North America was the largest region in the synthetic hormones market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic hormones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing incidence of hormonal imbalances is expected to propel the growth of the synthetic hormones market going forward. A hormonal imbalance refers to having too much or too little of a hormone in the blood, which can occur due to stress, aging, medical conditions, or lifestyle choices, disrupting the average production and regulation of hormones in the body. Synthetic hormones are used to supplement or replace natural hormones in hormonal imbalances, helping regulate bodily functions and alleviate symptoms associated with deficiencies or excesses. For instance, according to the NHS Business Services Authority, a UK-based non-departmental public body, in 2022, around 7.80 million hormone replacement therapy (HRT) items were prescribed in England, marking a 35.0% increase from the previous year. Therefore, the increasing incidence of hormonal imbalances is driving the growth of the synthetic hormones market.
Key Industry Players
Major companies operating in the synthetic hormones market are Pfizer Inc., Johnson & Johnson, AbbVie Inc., Bristol Myers Squibb Company, Sanofi SA, AstraZeneca PLC, Novartis AG, GlaxoSmithKline PLC, Gilead Sciences Inc., Boehringer Ingelheim International GmbH, Novo Nordisk A/S, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Ferring B.V., Endo Pharmaceuticals Inc., Lupin Pharmaceuticals Inc., IBSA Institute Biochimique SA, American Regent Inc., McGuff Pharmaceuticals Inc., Anhui Anke Biotechnology Co.Ltd., Lyndra Therapeutics Inc., Acerus Pharmaceuticals Corporation, Arch BioPartners Inc., Slayback Pharma LLC
The synthetic hormones market report table of contents includes:
1. Executive Summary
2. Synthetic Hormones Market Characteristics
3. Synthetic Hormones Market Trends And Strategies
4. Synthetic Hormones Market - Macro Economic Scenario
5. Global Synthetic Hormones Market Size and Growth
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31. Synthetic Hormones Market Other Major And Innovative Companies
32. Global Synthetic Hormones Market Competitive Benchmarking
33. Global Synthetic Hormones Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Synthetic Hormones Market
35. Synthetic Hormones Market Future Outlook and Potential Analysis
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